Chapter 10 - Regulation of trust service providers

Introduction

Another issue the Commission has examined as part of its review is whether there is a need for additional regulation of those providing services to trusts. Some groups providing professional services to support trusts, such as lawyers, financial advisers and accountants, are regulated, but others are not.

This chapter considers whether all service providers should be regulated. It examines the policy objectives of such regulation, describes New Zealand’s current regulatory arrangements and the problems that can arise. The chapter also looks at the regulatory regimes overseas jurisdictions have adopted and considers the options for additional regulation of trust service providers.